Uber Technologies (NYSE:UBER) Trading 2.1% Higher on Analyst Upgrade

Key Points

• Uber Technologies' stock rose 2.1% after Wells Fargo raised its price target from $119 to $127 and maintained an overweight rating on the shares.
• The consensus price target for Uber is currently $103.06, with a mix of ratings: one Strong Buy, twenty-nine Buy, and ten Hold.
• Insiders, including Tony West and Jill Hazelbaker, sold significant shares recently, indicating a 1.80% and 26.53% decrease in their ownership stakes, respectively.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares traded up 2.1% on Monday after Wells Fargo & Company raised their price target on the stock from $119.00 to $127.00. Wells Fargo & Company currently has an overweight rating on the stock. Uber Technologies traded as high as $93.33 and last traded at $92.93. 5,304,466 shares traded hands during trading, a decline of 75% from the average session volume of 21,495,871 shares. The stock had previously closed at $90.99.

A number of other equities research analysts have also weighed in on UBER. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. KeyCorp upped their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Piper Sandler upped their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Roth Capital upped their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Insider Activity

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,696 shares of company stock worth $4,632,774. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Reynders McVeigh Capital Management LLC raised its position in shares of Uber Technologies by 2.8% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 222,302 shares of the ride-sharing company's stock worth $20,741,000 after purchasing an additional 6,130 shares during the last quarter. American Trust acquired a new stake in Uber Technologies in the 2nd quarter valued at about $231,000. Total Investment Management Inc. acquired a new stake in Uber Technologies in the 2nd quarter valued at about $32,000. Orion Porfolio Solutions LLC raised its holdings in Uber Technologies by 21.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 74,222 shares of the ride-sharing company's stock valued at $6,925,000 after acquiring an additional 12,887 shares during the last quarter. Finally, Munro Partners acquired a new stake in Uber Technologies in the 2nd quarter valued at about $96,294,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

The company has a market cap of $194.25 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.04 and a beta of 1.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock's fifty day simple moving average is $92.42 and its 200 day simple moving average is $84.05.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the company posted $0.47 EPS. The business's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

About Uber Technologies

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.

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